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On February 19, 2019, the Cyprus Securities and Exchange Commission (CySEC) launched a consultation seeking feedback on the proposed amendments to the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007 (L. 188(I)/2007). Taking into consideration many queries received from market participants, the proposals aim to bring crypto asset activities under the ambit of the AML framework, transposing at the same time the provisions of the 5th Anti-Money Laundering Directive (5th AMLD) into the national legal order.
On April 3, 2018, the Office of the Commissioner for Personal Data Protection launched a public consultation on a preliminary draft law implementing a number of the provisions of the General Data Protection Regulation (GDPR). The bill was drafted by the authority, after taking into consideration comments from the Ministry of Justice and Public Order.
Some of the main provisions of the draft law, which by large refers to the actual articles of the GDPR, can be summarised as follows: